CG Oncology, Inc. (NASDAQ:CGON) Sees Large Decline in Short Interest

CG Oncology, Inc. (NASDAQ:CGON) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 9,387,150 shares, a decrease of 27.3% from the December 31st total of 12,919,357 shares. Currently, 11.6% of the shares of the stock are sold short. Based on an average trading volume of 1,679,102 shares, the short-interest ratio is presently 5.6 days. Based on an average trading volume of 1,679,102 shares, the short-interest ratio is presently 5.6 days. Currently, 11.6% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Guggenheim assumed coverage on CG Oncology in a report on Tuesday, October 7th. They set a “buy” rating and a $90.00 price target on the stock. Royal Bank Of Canada increased their price objective on CG Oncology from $61.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Truist Financial lifted their target price on CG Oncology from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Piper Sandler upped their target price on CG Oncology from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $82.00 price target on shares of CG Oncology in a research report on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.83.

Insider Activity at CG Oncology

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $41.43, for a total value of $41,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Mulay sold 11,145 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $52.47, for a total transaction of $584,778.15. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On CG Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in CG Oncology in the fourth quarter valued at about $27,000. Strengthening Families & Communities LLC bought a new position in shares of CG Oncology in the third quarter valued at approximately $40,000. Comerica Bank boosted its holdings in shares of CG Oncology by 100.4% in the 4th quarter. Comerica Bank now owns 1,028 shares of the company’s stock worth $43,000 after acquiring an additional 515 shares in the last quarter. Winthrop Capital Management LLC acquired a new position in shares of CG Oncology in the 2nd quarter worth approximately $38,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in CG Oncology by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,945 shares of the company’s stock worth $77,000 after acquiring an additional 398 shares during the last quarter. 26.56% of the stock is owned by institutional investors.

CG Oncology Stock Performance

NASDAQ:CGON opened at $52.05 on Friday. The firm’s 50-day moving average is $45.57 and its 200-day moving average is $38.19. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -25.51 and a beta of 1.35. CG Oncology has a 52-week low of $14.80 and a 52-week high of $57.88.

CG Oncology (NASDAQ:CGON) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.57). The firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.07 million. Equities analysts predict that CG Oncology will post -1.31 EPS for the current year.

CG Oncology Company Profile

CG Oncology, Inc (NASDAQ: CGON) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.